Bitcoin News and Finance: What You Need to Know

On Monday, Wasabi Wallet and the open-source bitcoin payment processor Btcpay announced a new plugin for the Btcpay server. The plugin implements Wasabi’s Wabisabi coinjoin coordination protocol, allowing merchants to benefit from privacy enhancement. By activating the newly launched plugin, all the funds that merchants receive and send will be coinjoined, or mixed together with other bitcoin transactions. New Btcpay Server Plugin Aims to Bolster Bitcoin Privacy According to an announcement from the privacy-centric bitcoin wallet platform Wasabi Wallet and the bitcoin payment processor Btcpay , merchants now have the ability to obfuscate their incoming and outgoing bitcoin (BTC) transactions. The technology comes in the form of a new plugin for Btcpay, which was developed by Andrew Camilleri and based on Wasabi Wallet’s Wabisabi coinjoin coordination protocol. The Btcpay plugin’s scheme “protects the privacy of all their incoming and outgoing transactions by preventing sensitive...

The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. G20 Agrees Crypto Poses Major Risks to Financial Stability, Says RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das talked about cryptocurrency during a media briefing Saturday following the G20 meeting of finance ministers and central bank governors in Bengaluru. According to India’s state-owned media agency News On Air: Das told the media that there is now wide recognition and acceptance of the fact that crypto currencies or assets are major risks to financial stability, monetary systems, and cyber security. Das also noted that G20 delegates expressed interest in central bank digital currency (CBDC) pilot projects in India and other countries, the publication con...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has detailed why he considers all crypto tokens other than bitcoin as securities. While acknowledging that crypto tokens may have different setups, he stressed that “at the core, these tokens are securities.” SEC Chair Believes All Crypto Tokens Other Than Bitcoin Are Securities The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explained why he believes all crypto tokens other than bitcoin are securities in an interview published Thursday by New York Magazine’s Intelligencer . Gensler believes that the securities watchdog has all of the legal tools needed to oversee the crypto sector, the publication conveyed, adding that the SEC boss explained that pretty much every sort of crypto transaction already falls under the SEC’s jurisdiction except spot transactions in bitcoin itself and the actual purchase or sale of goods or services with cryptocurrencies. The SEC chairman was quoted as ...

Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered approximately $770,000 which belonged to MTI. Liquidators’ Fees Liquidators of the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) have so far spent approximately $4.9 million (90.2 million rands) on lawyers and consultants since assuming control, a report has said. According to a Mybroadband report , a total of approximately $6.1 million has so far been disbursed while a further $7.3 million is earmarked for liquidators’ fees. In April 2021, a Bitcoin.com News report said more than $70 million was raised from selling 1,281 bitcoins belonging to MTI. A few months later, another report said more than 8,000 BTC belonging to MTI had been “traced” and that investigators were on track to finding...

Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes, a handful of companies are also harnessing it in this way. Companies Are Reportedly Using USDT to Avoid Being Hurt by Sanctions in Venezuela While the use of dollar-pegged stablecoins, like Tether’s USDT , in countries like Venezuela is mainly related to inflation and devaluation according to Chainalysis, a second use case has also been discovered recently. Reports from local analysts state that a handful of companies are using USDT as a payment method for foreign customers and providers, which are afraid of using traditional payment means due to the risk of receiving sanctions. According to Juan Blanco, director of local consulting firm Bitdata consultants, many unidentified companies are s...